Daily Archive: May 10, 2020

Investing

May 10, 2020

What investors can learn from B.C.’s superstar provincial health officer

On the West Coast, we’re captivated by our provincial health officer. Dr. Bonnie Henry showed up on our radar during an early press briefing for COVID-19 when she let her emotions show through. Since then, she’s become a rock star (look out Michael Jordan, she’s even had a shoe designed in her honour) for reasons that go far beyond her compassion.

We’ve come to know Dr. Henry as one of the world’s leading virus hunters. Along with her team, she’s developed a unique strategy for flattening the curve and is pursuing it methodically. She isn’t swayed by what other provinces or countries are doing to fight their pandemics, and most importantly, she’s always calm.

As I watch Dr. Henry’s daily briefings, I can’t help but think that her intelligence, fortitude, empathy and calmness are perfect attributes for a financial advisor. While finding all those traits in the same person is

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News

May 10, 2020

South Korea reports 34 new coronavirus cases, highest in a month By Reuters

© Reuters. People wearing masks to avoid the spread of the coronavirus disease (COVID-19) shop at an outlet mall in Gimpo

By Hyonhee Shin

SEOUL (Reuters) – South Korea reported 34 new coronavirus cases on Sunday, the highest daily number in a month, after a small outbreak emerged around a slew of nightclubs that a confirmed patient had visited.

Of the new cases, 26 were domestically transmitted infections and eight were imported cases, the Korea Centers for Disease Control and Prevention (KCDC) said.

Sunday’s total was the highest since April 9. After battling the first major epidemic outside China, South Korea posted zero or very few domestic cases over the past 10 days, with the daily tally hovering around 10 or less in recent weeks.

The resurgence followed a small but growing coronavirus outbreak centred around a handful of Seoul nightclubs, which a man in his late 20s had visited

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Finance

May 10, 2020

10 takeaways from the worst jobs report in U.S. history

Brutal. Horrific. Tragic.

Choose your description. The April jobs report showed, in harrowing detail, just how terribly the coronavirus outbreak has pummeled the U.S. economy. Most obviously, there’s the 14.7% unemployment rate, the highest since the Great Depression. And the shedding of more than 20 million jobs, by far the worst one-month loss ever.

But Friday’s jobs report from the government contains 42 pages about just how far the job market has tumbled, along with hints of what to watch for — eventually — in a possible recovery.

Here are 10 major takeaways from the April jobs report:

Even worse than it looks

The unemployment rate is catastrophically bad. Based on backdated estimates, the rate hasn’t been higher since 1939. But the scary thing is that the April figure actually downplayed how bleak things are.

Heidi Shierholz, the former chief economist for the Labor Department, noted on that 6.4 … Read More

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